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72.0¢ advance zinctek limited

Ann: Rights Issue Update and EGM, page-19

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LithiumHydride

133 Posts.

3

10/01/19

09:18

Post #: 37076149
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Originally posted by markf17: ↑

I also rang company, spoke to someone, left message asking about oversubscriptions and got no reply. Decided to apply for double my entitlement on both accounts. I can see on the ANZST account I was given only the shares I was entitled to at 1 for 30. There seems to have been some inconsistency in allocating shares to those who oversubscribed. I will ring company again to try and clarify how they dealt with oversubscriptions.

The 30% sp increase in about a week has kept a smile on my face but maybe a secondary motive for the cap raise was to enable more shares to be purchased by chairman who I think has done a brilliant job turning the company around.

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It does leave a sour taste in the mouth.
It's a well known technique for insiders to increase their stake in small illiquid companies - rights or SPP that aren't that attractive in terms/timeframe, leading to a shortfall that is taken up by insiders.

My hope - is that the intent is genuine, and that future capital raisings are done so with more transparency and that all shareholders are treated equally.

Last edited by LithiumHydride: 10/01/19

ANO Price at posting: $1.15 Sentiment: Buy Disclosure: Held
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(20min delay)
Last 72.0¢		Change 0.000(0.00%)		Mkt cap ! $44.96M

Open	High	Low	Value	Volume
72.0¢	72.5¢	72.0¢	$325	451

Buyers (Bids)

No.	Vol.	Price($)
2	52575	72.0¢

Sellers (Offers)

Price($)	Vol.	No.
73.0¢	500	1

View Market Depth

No.	Vol.	Price($)
2	52575	0.720
1	425	0.705
1	455	0.655
0	0	0.000
0	0	0.000

Price($)	Vol.	No.
0.720	9350	2
0.730	500	1
0.770	965	1
0.780	100	1
0.785	222	1

Last trade - 16.10pm 25/06/2024 (20 minute delay)

ANO (ASX) Chart